The company relocated 322 Cedar Rapids jobs in 2022

CEDAR RAPIDS — Toyota Financial Services’ presence in Cedar Rapids will end at the close of next year, taking with it 54 local jobs.

The company recently filed a notice of its pending action with the Worker Adjustment and Retraining Notification, or WARN, with Iowa Workforce Development.

The notice listed Dec. 31, 2024 as the date of the closure, but Vincent Bray, corporate communications senior manager with Toyota Motor Credit Corporation said that date was incorrect. The correct date is Dec. 31, 2025.

Bray said those 54 Cedar Rapids employees have been working remotely since the company decided in 2021 to relocate its Cedar Rapids customer service center. In 2022, the company eliminated 322 jobs in Cedar Rapids. At its peak, Toyota Financial Services had about 600 employees in Cedar Rapids.

“On March 24, 2021, Toyota Motor Credit Corporation announced a plan to restructure its national customer service operations by relocating three regional Customer Service Centers to be co-located with existing regional Dealer Service Centers located in Chandler, Arizona (serving the West region), Plano, Texas (serving the Central region), and Alpharetta, Georgia (serving the East region),” Bray said in an email to The Gazette this week. “While this meant that we would no longer maintain our Customer Service Center in Cedar Rapids, we remain committed to providing greater value to our customers and dealers.”

Every Cedar Rapids-based Toyota team member who wished to continue with the company was given a position in Chandler, Plano, or Alpharetta, Bray said.

Last month, Xavier Catholic Schools announced plans to purchase and remodel the former Toyota Financial Services building, 5005 N. River Blvd. NE, in Cedar Rapids. The three-story, 109,000-square-foot building and surrounding 11 acres of land will be the schools’ new consolidated Catholic middle school.